HR Learning: 6 Jan, 2023

 1.

Pearson to acquire workforce assessment provider PDRI for $190 million

Acquisition to significantly expand Pearson's services to US federal government. London-based education publisher Pearson has entered into an agreement with SHL Group to acquire workforce assessment services provider Personnel Decisions Research Institutes, LLC (PDRI).

PDRI has significant expertise in providing assessment solutions to the US federal government, one of the largest employers in the US with more than 4 million employees. 

The consideration for PDRI represents an enterprise value of $190 million, which will be funded from Pearson's existing cash and available liquidity. 

Completion of the acquisition is expected to occur during H1 2023 subject to regular closing conditions, including any required regulatory filings or approvals. 

This acquisition further expands Pearson's portfolio, accelerating the company's strategy to capture new market opportunities and grow its presence with large employers.  

PDRI will join Pearson's assessment & qualifications division. Within this division, Pearson and PDRI already have an established, strong working relationship, partnering to deliver high quality assessments to federal jobseekers at Pearson VUE test centers.

2.

BetterManager raises $16 million in series A funding

The San Francisco-based startup plans to use the fresh funds to accelerate its efforts to scale its virtual leadership development solution. Leadership development platform BetterManager has announced the completion of a $16 million series A funding round led by Education Growth Partners.

BetterManager’s seed funder, Polar Capital Group, also contributed to the round. The San Francisco-based startup plans to use the fresh funds to accelerate its efforts to scale its virtual leadership development solution. Founding in 2017, BetterManager has supported the growth and development of people leaders–from new managers to senior executives–at over 200 organisations around the world through a combination of 1:1 executive-level coaching, collaborative group learning models (such as group coaching and training), practical e-learning tools, and actionable assessments. “BetterManager highly integrated model has demonstrated consistently that it can enhance the quality of leadership across all levels of an organisation, all as it improves retention of managers and their direct reports.

3.

One way to turn the tide of employee retention

There's a surprising link between skill development opportunities and job satisfaction. Jeremy Braidish, Chief People Officer of Cyara, shares some ways of boosting skilling and thereby talent retention. Organisations across the globe are facing the challenge of skilled labour shortages. Hiring new employees can be a significant financial and administrative investment that takes time, so prioritising the retention of existing staff has become a high priority. Reducing staff turnover not only saves money but also helps foster a positive company culture and develops future-focused thinking.

However, according to PwC’s 2022 Workforce Hopes & Fears Survey, four in ten employees in Asia Pacific are not satisfied with their job and one in five intend to switch to a new employer in the next 12 months. 

While the benefits are undeniable, less than half (45%) of APAC companies are upskilling workers, and 42% are worried their employer will not teach them the technology skills they need. These findings suggest a significant disparity between what employees want, and what they are getting. Shift towards non location-specific or remote work arrangements means companies need to create training programs that can work well anywhere. A big challenge for employers is the ability to coordinate and balance virtual and in-person training, ensuring both types of training are invested in appropriately and deliver the same quality outcomes. Companies need to be careful not to overlook those who work fully remotely.